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MKT291finalstudyguide

MKT291finalstudyguide - Chapter3: o digitizedofferings o

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Chapter 3: Scanning the Marketing Environment Technology-  inventions from applied science of engineering research o Marketspace-  information- and communication-based electronic exchange environment occupied by  digitized offerings o to government control where an industry attempts to police itself Chapter 4: Ethics and Social Responsibility Ethics-  moral principles and values that govern the actions and decisions of an individual or a group Laws-  society’s standards and values that are enforceable in court Culture  – incorporates the set of values, ideas, and attitudes that are learned and shared among the member of a  group Caveat Emptor – “let the buyer beware” Consumer Bill of Rights-  codified the ethics of exchange between buyers and sellers, including right to satisfy,  to be informed, to choose, and to be heard Economic Espionage-  clandestine collection of trade secrets or proprietary information about a company’s  competitors Code of Ethics-  formal statement of ethical principles and rules of conduct Whistle Blowers-  employees who report unethical or illegal actions of their employers Moral Idealism-  moral philosophy that considers certain individual rights or duties as universal, regardless of the  outcome Utilitarianism-  moral philosophy that focuses on the “greatest for the greatest number” Social Responsibility-  idea that organizations are part of a larger society and are accountable to that society for  their actions o Profit responsibility- holds that companies have a simple duty: to maximize profits for their owners or  stockholders o Stakeholder responsibility- focuses on the obligations an organization has to those who can affect  achievement of its objectives o Societal responsibility- refers to obligations that organizations have to the preservation of the ecological  environment and to the general public Green Marketing-  marketing efforts to produce, promote, and reclaim environmentally sensitive products Cause Marketing-  tying the charitable contributions of a firm directly to sales produced through the promotion of  one of its products (ex. P&G donates to charity when their product is bought)
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Social Audit-  systematic assessment of a firm’s objectives, strategies, and performance in the domain of social  responsibility Chapter 11: Managing Products, Services, and Brands Branding-  organization’s use of a name, phrase, design, symbol, or combination of these to identify and distinguish its  products Brand Name- 
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